Monday, April 11, 2011

$US tredding 75, commodities get hamered, wash, rinse, repeat, I know this drill you aint fooling anyone sweethart!

All in the title.


  1. SGS, So how far do you think silver will drop before its ready to start climbing again? I'm just itchin' to buy some more. tryin to stack to the roof. You have some great info on here and i just wanna thank you for your advice and info.

  2. workin on it pal, getting my CFTC contact contacted right now...of coarse that was a failure last time, so lets see what happens this time...all in commentary tonight.

  3. I wanna see the CTFC do the fucking right thing for once and set the 6000 contract position limit period. Can you imagine the panic at JPM, HSBC and all the other maggot infested big banks as the have to figure out how to cover all their short contracts? JPM short 25,000 in silver. If they had to cover 19,000 contracts, the price of AG would go up to over $50 overnight.

  4. SGS do you really believe CFTC can do something *not in favour* of the banks? Seems technically f impossible. We all (naively) expected this to happen after previous meeting, you even posted something like 'there will be massive short covering this evening', Harvey expected same - yet nothing happened. CMON FEED US WITH SOME GOOD NEWS, SILVER BULLS ARE HUNGRY

  5. Shit, I was really, really wrong. And I really, really bleeded. Still, I haven't been stopped out, but I am worried that the 40 barrier won't hold. Could I be that wrong reading the market?

  6. I'm hoping they pop this bubble soon, scare all the suckers out and I get cheap silver and gold.
    Damon Vickers made an interesting comment last year that he expected a 60% drop in prices, apparently the guy cashing him out at Costco was bragging to him how good GLD has been.

    Its strange, as the 2008 crash silver went to $8/oz.
    If they drop QE2-3, raise interest rates, I'm betting on silver dropping to $15-20 range. That should buy them some time.

  7. First let me say that I have A BSD long Silver position both in physical and Crimex Contracts, so yes I am a BULL! Do you really think that the CFTC is going to enact a reg that emasculates the Morgue? C'mon, if the Crimex defaults and JPM blows up it will make LEH/BSC look like a walk in the park. No way Jose. The game goes on and the Silver Bulls just keep punishing the Morgue and Blythe and every once in awhile we experience a well orchestrated takedown. Buy the dips sell the rips, hold your core

  8. Also, Vickers said that the US will have to crank interest rates once foreigners stop buying there T-Bills, in an attempt to attract them.

    Could we see a rate hike coming soon?
    He mentioned silver wasn't a long...Yet.

    He has been bang on, and I mean bang on for his career.

    If interest rates get jacked, silver is toast.
    I suspect most of the price increases lately have been ETF buyers, Scotia Macotta has lots of silver now.

  9. @ Uncharted Thoughts. What would make you think that QE2-3 would cause silver prices to drop? Especially that far?

  10. "Also, Vickers said that the US will have to crank interest rates once foreigners stop buying there T-Bills"

    You can tell Vickers if the Fed raises rates by .50 expect the USA to fall into a hyperinflationary deflation depression stagflationary abyss.

  11. The same reason silver dropped to $8/oz in the 2008 crash, idiots sell there ETF's and the cash flow stops, with no one buying prices drop.

    I suspect Goldman Sachs has insider info that QE3 isn't going to happen, and wants out before commodities tank.

    Does it make sense that silver dropped to $8/oz in 2008? Not to us, we hold physical, but I suspect most of the people effecting the price are paper holders and speculate on silver like a stock, at least in America. The Chinese buy physical, they know the score, so do we.

    If QE3 is a no go, get down on your knees, thank god for this last buying opportunity. The US is going to go bankrupt and default, silver will be minimum $150. Our only fault might be we jumped the gun or are too ready.

  12. Hey SGS, seen this one?

    Silver ETF Options Trader Bets on 37% Price Decline by July

    The 100,000 puts, or options to sell 100 shares each of the iShares Silver Trust (SLV) at $25 by July..

    more at

  13. I can't believe anyone would expect the JPM jock-sniffers at CFTC to do a G.D. thing about the ongoing theft on COMEX.


    How many times do you need to have sand kicked in your faces?

    Bart "Tanning Bed" Chilton=controlled opposition.

  14. UK, already commented on it, but like I said, if I was up 20 mill on a silver trade, I would be required to buy insurance at $25. If silver goes to $25 in July, I will close this blog up, and proceed to run for mayor so I can be a criminal too.

  15. SGS, I agree 100%, and I suspect this correction, and those as QE2 ends, will be speculators and ETF's selling off.

    Remember all the mainstream news pumping silver lately? Market is going to take a controlled dump when QE2 ends, I suspect speculators will be selling in anticipation of a decline.

    This is a good thing, we know the end game.
    But we make up about 0.5% of the population.

    I could be wrong, I am no guru, I just know that whenever the news is pumping it, and the charts make it look like a sure thing, something comes in and fucks it up.

    I wouldn't even doubt them dropping oil to $30 a barrel again to really fuck up the Arabs, again.

  16. @UK -- Interesting purchase. Just checking the July 25 put on TDAM has the bid at 0.15. Which would mean this trader already is up .05 or 500K. Not bad for a days work.

  17. If it goes to $25 I will buy $50000 and play with it like scrooge McDuck.

    SGS, the US is run by the most diabolical minds on earth.

    This is the best blog I have seen, and I like how everyone comes together here and can discuss something productive. In Whitby here (outside Toronto) everyone just drinks Tim Hortons and talks about fucking hockey and how gas costs too much.

    Don't worry about these ups and down, its the end game that matters.

  18. @SGS and chicagomark The trader up that much already? Hey I just don't understand Puts an Calls at all, any you guys use them? How easy?

  19. Even if QE2 ends, bonds fall, interest rates rise, there may be something of a sell off, however... If Benny raises rates just 1%, that adds another $144 billion to the US deficit.

    That means they'll have to print more money, and hence the rise of PMs.

    If they run straight to QE3, they're have to print more money, and hence the rise of PMs.

    So yes, BTFD and be prepared when everything goes crazy!

  20. yo, sgs, you never mentioned the potential "downside" of owning silver eagles in the potential event of confiscation... please elaborate on that. thx.

  21. JPDG, good point, from the Feds point of view, the only logical way to slow down the death of the dollar is to scrap QE3, let prices fall, and this way they can keep interest rates down, while cranking the money supply without causing extreme hyperinflation, at least initially.

    Blythe might be happy about this?

  22. There's no way the US cannot stop printing money. Unless we cut SS and Medicare by 50% and enforce extreme austerity measures, we have to print. More fiat = more run to PMs.

    And where do you think China would run to during a market crash...? The US dollar? They're getting rid of it left and right.

    I don't see how the US Congress would ever have the political will to do something so severe. We just spent 3 weeks bitchin' over $38 billion, which would be knocked out by .25% interest rate hike.

    We're too far down the rabbit hole. Buy the dips and hold, rinse and repeat.

  23. Where's the YT video a guy made that shows how hammered silver gets on NY time? IIRC, it was down something like 60% and then rallied in Euro/Asian trading. If I could find it, I'd post it again.

    Why is this any surprise? There was a nice 10% discount in January when we went from $31 to $27 and the shot out of that hole like a pissed off badger. BTFD.

  24. what do you mean by rinse and repeat? been hearing that alot lately

  25. The fuckin' Crimex is down 65 cents ($3,250 per futures contract) in the first 12 minutes of night trading!!!!!!!!!!!!!!! How the hell can the butt boys & girls of the CFTC says nothing is going wrong? All of the sudden, everything has turned (fundamentally) in the world in 2 days to pound the shit out of silver? These people have no souls. I hope they have to live to see their children suffer through poverty and hyperinflation, not to mention they will NEVER MOVE OUT OF THEIR HOUSE because they cannot afford to!! SCUMBAGS--all of you!!

  26. Earl...basically saying SSDD--same shit, different day


    Fukushima Nuclear Incident now raised to a LEVEL 7. What a fricken JOKE. USSR was able to get Chernobyl undercontrol within 10 days, and the Japanese Govt has wasted a whole month only to be able to say they OFFICIALLY raised the LEVEL to 7.

    Mike Ruppert on Collapsenet released a EMERGENCY ACTION ALERT to his members. As of April 10. He believes that most financial statistics can be manipulated but not CORPORATE QUARTERLY EARNINGS. When JUNE-JULY roll around the supply chain disruptions will destory earnings making the DOW fall 4-5,000 points. (according to Ruppert)

    It makes perfect sense. Hell, all of Toyota's plants in Canada, USA, and Mexico are shut down. Container Ships don't even want to go into Japan as far away as TOKYO as they are getting radiation readings on their ships that INSURANCE won't cover when they deliver to other countries.

    SGS members.....this is a disaster unfolding in the next several months. Sure, we all knew the disintegration of the USA was coming at some point...but this Japanese disaster has just moved up the time table.

    As SGS stated a week or so ago, you need to get ready and prepare. Hell the TOP GOLD BUG in the WORLD....JIM SINCLAIR has his own self-sustaining farm in CONN.

    SH*T will be hitting the fan by summer. Get your physical silver and gold and head to the country if possible. The big city will be the worst place to be when the FINAL ACT is finished and the curtain comes down.

  28. Hehe, rinse and repeat is a shower analogy.

    So, here's another thought/concern: Silver was smashed today on fact that a wild trader (i.e. US Federal funds) bought 100,000 July 25 puts.

    And tomorrow we have a hearing from the CFTC...?

    You think Blythe knows something we don't? My thought is that the put buy was a "softening" of silver for the hearing tomorrow, of which JPM already knows the outcome... They will not enforce short position limits.

    Still bullish in the long term, but this may turn out to be a hellavu week.

  29. Level 7 at Fukushima - H*!l S*%t. And they still don't have it under control.

  30. Don't worry, markets will close higher tomorrow.

    Just ask Ben.

  31. @JPDG - don't care about the markets. I *hope* the Japanese authorities can wind it down, but this Fukushima thing is still a real problem. They should be burying the site in Boron & Concrete right now. The radiation won't stop on the west coast.

  32. The title says it all, really.

    If anyone is interested in digging deeper into the mechanics of Futures markets, I recommend:

    Options, Futures and Other Derivatives by John C. Hull

    You'll be able to see straight through a lot of the speculation.

  33. Yousif, care to tell us a little about this book?

  34. Don't forget that the debt ceiling will have to be raised again next month. Another budget battle looms this thursday as well (last friday was only a 1 week extention). Obummer's idea to cut the deficit will fall on deaf ears. All good news for the bulls.

  35. Fukushima, maybe undefined levels 8, 9 10 coming soon I'd think. Toyko, if I lived there, I'd be moving out.

    goboy9 are you a troll?

    CFTC, just all games, I agree with Pete. The free market has to beat the Morgue and it will. The upside is the longer the manipulation lasts the higher it goes. I want it ended right now though, this second and would if I could do it.

    We (The US and much of the world) are heading straight into into a hyper-inflationary depression spiral. Might as well be sooner than later to get the ass clowns in Washington their just reward.

  36. SRSrocco, man this blog is great, endless amounts of points of view!

    I don't think the US is going to go bankrupt yet, Lindsey Williams said they need oil at $200/Barrel and it will be near the end of 2012. He has been 95% bang on.

    I think a good stiff market correction is coming for both QE stopping and the quarterly earnings.

    Looks like Goldman got out at the right time.

  37. uncharted thoughts? what bubble and also the foreigners have pretty much stopped buying our debt. The Fed is the largest holder of Treasuries now.

  38. AC Doc.. Screw that 6000 contract limit.. 1500 is better. Even at 6000 contracts thats still 30 million ounces. That is way to high.

  39. Uncharted Thoughts... with all respect, you don't have a damn clue what you are talking about.

  40. lol
    Hey these are just ideas and opinions being exchanged here, when I have $1.2 billion I might claim to know it all :)

    What you are saying is true, and maybe Lindsey Williams is off his rocker, but these bankers have more tricks than Tony Hawk.

    I've been thinking the US is gone since 2006, still waiting, they keep pulling new scams, its really amazing. Whoa knows, what is your take on the next few months?

  41. No kidding. Same process will repeat itself. CNBC "experts" were telling people early Feb. to expect a strike price of SLV at $24 for March expiration.

    Just keep following Pete Schiff's advice. I agree with SGS that QE3 is 100% go. No way the white house wants Ben to stop the spending leading into 2012 election year. There is a chance that ETFs will start to lag with the price phys., which is why everyone who owns the phys, wins either way.

  42. Good video by Paul Ryan talking about what must be done to the US economy. Although I don't think the US has the political balls to go through with this, the video is (fairly) fiscally accurate.

  43. Sierra---me brain fart. I meant to say 1500.
    Tomorrow will tell.

  44. what channel and time is the CFTC meeting today?